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ANALISIS EFEK KEBIJAKAN MONETER TERHADAP OUTPUT DI INDONESIA Catona Machtra; Fakhruddin Fakhruddin
Jurnal Ekonomi dan Kebijakan Publik Indonesia Vol 3, No 1 (2016): Mei 2016
Publisher : Syiah Kuala University

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The purpose of this research is to analyze the relationship of Gross Domestic Product, Exchange Rate and Inflation. Analysis used multiple regression analysis instruments with Vector Autoregressive (VAR) model and using quarterly data from 1990.1 to 2015.4 periods. The results of this research show significant relationship between Gross Domestic Product, Exchange Rate, and Inflation. For the next research, the author suggests to employ different variables to further investigate relationship variables toward output in Indonesia.

Analisis pasar Saham Indonesia Muhammad Thareq Kemal; Fakhruddin Fakhruddin
Jurnal Ekonomi dan Kebijakan Publik Indonesia Vol 2, No 2 (2015): Mei 2015
Publisher : Syiah Kuala University

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This research aimed to analyze the interaction between IHSG, portfolio investment, BI rate and exchange rate to understand which variable has more dominant factors onto the others. Restricted VAR was employed to test the hypothesis. Data was quarterly from 1997:Q3 to 2013:Q4. The empirical results showed that all variables have bi-directional causality. More significant correlation could be observed between IHSG and portfolio investment and exchange rate; portfolio investment is significantly correlated with IHSG, BI rate and exchange rate; BI rate has significant effect on the volatility of IHSG and portfolio investment; and exchange rate significantly affected portfolio investment. Monetary policies was considered effective to affect IHSG, portfolio investment and exchange rate, implying that the authority should maintain the stability of BI rate.

Intermediasi Perbankan Syariah Terhadap Pertumbuhan Ekonomi Indonesia Muhammad Putra Rizki; Fakhruddin Fakhruddin
Jurnal Ekonomi dan Kebijakan Publik Indonesia Vol 2, No 1 (2015): November 2015
Publisher : Syiah Kuala University

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Sharia banking in Indonesia has been started for the last two decades. It was expected to have correlation and to contribute to higher economic growth in Indonesia. This research aimed to investigate the sharia banking intermediation in triggering economic growth in Indonesia. It used quarterly SBIS time-series data, total sharia financing, real sector growth and economic growth for the period of 2000:Q4 to 2012:Q4. Empirical findings indicated long run equilibrium between sharia banking and economic growth. Granger’s causality test implied bi-directional causality between real sector growth and economic growth and one direction causality from total sharia financing into real sector economy and economic growth. Estimation with Vector Error Correctin Model (VECM) tended to be inline with the hypothesis that sharia banking is able to serve as growth engine in Indonesia.

ANALISIS VARIABEL MAKRO DAN RASIO KEUANGAN TERHADAP KREDIT BERMASALAH Muhammad Rahmadi Yusuf; Fakhruddin Fakhruddin
Jurnal Ekonomi dan Kebijakan Publik Indonesia Vol 3, No 2 (2016): November 2016
Publisher : Syiah Kuala University

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The research aims to analyze the impact of the macro variables and variable financial ratios to Non Performing Loan analysis method used was Ordinary Least Square ( OLS ) using quarterly data from 2003: 1 to 2014: 4 . The results showed that the variables of Exchange Rate ,the Gross Domestic Product, and Loan to Deposit Ratio (LDR) has a negative impact significantly on the NPLs, variable lending rates and Capital Adequacy Ratio (CAR) has a significant positive effect, simultaneously and together variable Non Performing Loan effect significant. Variable credit rate has a strong influence which led to an increase in NPLs . For further research, it is advisable to increase the number of variables that will be studied in order to determine what variables that influenced the Non Performing Loan.

KORELASI TRANSAKSI E-MONEY DAN PERTUMBUHAN JUMLAH UANG BEREDAR (M2) DI INDONESIA 2010-2019 Siska Azkia; Fakhruddin Fakhruddin; Chenny Seftarita; Ferayanti Ferayanti
EKOMBIS: JURNAL FAKULTAS EKONOMI Vol 7, No 2 (2021): November
Publisher : Universitas Teuku Umar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35308/ekombis.v7i2.4471

This study aims to determine the correlation of e-money transactions and the growth of the money supply (M2) in Indonesia 2010-2019. The variables used in this study include the volume of e-money transactions and the money supply (M2). In this study using descriptive quantitative methods. The analytical tool used is Granger Causality where the processing uses the Eviews9 software application, with secondary data consisting of monthly data. The results of this study indicate that the variable M2 seems to significantly affect e-money (5.E-09) because it is smaller than the alpha value of 10% and the e-money variable also significantly affects M2 (0.0004) So it can be concluded that only the e-money variable and M2 which has a two-way causality. This means that the value of M2 transactions in the past can affect the value of e-money in the present, and vice versa, the value of e-money transactions in the past can affect the value of M2 in the present in the 2010-2019 period. So it can be said that people in Indonesia have understood the use of electronic transactions (e-money) or non-cash transactions. In addition, Indonesia is a developing country with a large population, so that when there is a change or an innovation it will quickly develop so that it supports various aspects that are applied. Keywords: E-Money, Jumlah Uang Beredar (M2), Granger Causality.

ANALISIS INVESTASI LANGSUNG DI INDONESIA Maya Malisa; Fakhruddin Fakhruddin
Jurnal Ilmiah Mahasiswa Ekonomi Pembangunan Vol 2, No 1 (2017): Februari 2017
Publisher : Fakultas Ekonomi dan Bisnis UNSYIAH

This study aimed to analyze the effects of gross domestic products, interest rate, and exchange rate on direct investment in Indonesia. The study used quarterly data running from 2005.3 to 2014.4. Tthe study utilized Ordinary Least Square (OLS) model. The results showed that gross domestic products and interest rate have a significant and positive impact on direct investment in Indonesia. While the impact of exchange rate on direct investment is significantly negative. Based on this study, government and the Central Bank of Indonesia should maintain the stability of economic growth, interest rate, and exchange rate in order to encourage investment in Indonesia. Penelitian ini bertujuan untuk mengetahui dan menganalisis pengaruh produk domestik bruto, suku bunga dan nilai tukar terhadap investasi langsung di Indonesia. Penelitian ini dilakukan dengan menggunakan data sekunder periode 2005.3-2014.4 yang bersumber dari Badan Pusat Statistika (BPS) dan Bank Indonesia (BI) dengan menggunakan model regresi linear berganda dengan metode OLS (Ordinary Least Square). Hasil penelitian menunjukkan bahwa produk domestik bruto dan suku bunga berpengaruh positif signifikan terhadap investasi langsung di Indonesia sedangkan nilai tukar berpengaruh negatif signifikan terhadap investasi langsung di Indonesia. Di harapkan Pemerintah perlu menjaga kestabilan pertumbuhan ekonomi sehingga dapat mendorong peningkatan investasi di Indonesia dan juga selaku pengambil kebijakan moneter dapat menjaga pergerakan suku bunga dan kurs rupiah berada dalam kondisi yang stabil sehingga tidak menghambat pergerakan penanaman modal asing di Indonesia.

ANALISIS HUBUNGAN VARIABEL MAKRO DENGAN PENGHIMPUNAN DANA PIHAK KETIGA DI PERBANKAN UMUM Danil Maulana; Fakhruddin Fakhruddin
Jurnal Ilmiah Mahasiswa Ekonomi Pembangunan Vol 2, No 1 (2017): Februari 2017
Publisher : Fakultas Ekonomi dan Bisnis UNSYIAH

The purpose of this study is to determine how the relationship of inflation, exchange rates and interest rates on deposits with third-party funds (DPK) in commercial banking Indonesia. The data used is secondary data obtained from Bank Indonesia (BI) and Central Agency Statistics (Badan Pusat Statistik) in the period of January 2005 to December 2015. Model used in this study is Vector Autoregression (VAR). Research result using Granger Causality test show that, the variable of third-party fund does not have a casual relationship with the variables of inflation and exchange rate, while the variables of third-party fund with interest rate on deposits have a one-way relationship. Impulse Response Function (IRF) test indicates that the variables of third-party fund responds negatively to the shock variable inflation and it respond positively to the shock variable interest rate on deposits. As for the shock variable exchange rates, third- party funds respond fluctuatively (positive and negative) in the short term. Forecast Error Variance Decomposition test indicates that shock of variable interest rate on deposits, provide the greatest impact to variable third-party funds during the study period. Tujuan penelitian ini adalah untuk mengetahui bagaimana hubungan inflasi, nilai tukar dan suku bunga deposito dengan penghimpunan dana pihak ketiga (DPK) di perbankan umum Indonesia. Data yang digunakan adalah data sekunder yang diperoleh dari Bank Indonesia (BI) dan Badan Pusat Statistik (BPS) pada periode Januari 2005 sampai Desember 2015. Model yang digunakan dalam penelitian ini adalah Vector Autoregression (VAR). Hasil penelitian menggunakan uji Granger Causality menunjukkan bahwa, variabel dana pihak ketiga tidak memiliki hubungan kausalitas dengan variabel inflasi dan nilai tukar, sedangkan antara variabel dana pihak ketiga dengan variabel suku bunga deposito terdapat hubungan satu arah. Uji Impulse Response Function (IRF) menunjukkan bahwa variabel dana pihak ketiga merespon secara negatif terhadap shock variabel inflasi dan merespon secara positif terhadap shock variabel suku bunga deposito. Sedangkan untuk shock variabel nilai tukar, dana pihak ketiga merespon secara fluktuatif (positif dan negatif) dalam jangka pendek. Uji Forecast Error Variance Decomposition (FEVD) menunjukkan bahwa shock variabel suku bunga deposito memberikan pengaruh yang paling besar kepada variabel dana pihak ketiga dibanding variabel inflasi dan nilai tukar selama periode penelitian.

FAKTOR-FAKTOR YANG MEMPENGARUHI EFEKTIVITAS DANA DESA Chenny Seftarita; Fakhruddin Fakhruddin; Litbang Bappeda
Jurnal Ekonomi dan Pembangunan Vol 9, No 1 (2018): Jurnal Ekonomi dan Pembangunan
Publisher : Bappeda Provinsi Aceh

Penelitian ini bertujuan mengetahui faktor-faktor yang memengaruhi efektivitas dana desa. Data dalam penelitian ini merupakan data cross section (data satu waktu) tahun 2017. Penelitian ini menggunakan data primer dan sekunder dengan metode pengambilan sampelnya dengan area sampling dan stratified random sampling. Peralatan analisis yang digunakan adalah ordinary least square. Berdasarkan hasil penelitian yang dilakukan, pertama persepsi aparat gampong menunjukkan badan usaha milik desa dan manfaat ekonomi lainnya, manfaat dana desa, sisa lebih perhitungan anggaran dan strategi berpengaruh positif dan signifikan terhadap efektivitas dana desa sedangkan tata kelola tidak memiliki pengaruh terhadap efektivitas dana desa. Kedua, persepsi masyarakat menunjukkan badan usaha milik desa dan manfaat ekonomi lainnya, manfaat dana desa, sisa lebih perhitungan anggaran dan strategi tidak berpengaruh terhadap efektivitas dana desa sedangkan tata kelola memiliki pengaruh dan signifikan terhadap efektivitas dana desa.AbstractThis study aims to determine the factors that influence the effectiveness of village funds. The data in this study are cross section data (one time data) in 2017. This study uses primary and secondary data with the sampling method with the sampling area and stratified random sampling. The analytical tool used is ordinary least square. Based on the results of the research conducted, the first perception of village officials showed village-owned enterprises and other economic benefits, benefits of village funds, the remaining more budget and strategy calculations had a positive and significant effect on the effectiveness of village funds while governance had no influence on the effectiveness of village funds. Second, community perceptions show village-owned enterprises and other economic benefits, benefits of village funds, the remaining more budget calculations and strategies have no effect on the effectiveness of village funds while governance has an influence and significance on the effectiveness of village funds. Keywords: capital adequacy ratio, net interest margin, profitabilityKey words: capital adequacy ratio, net interest margin, profitability.

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